Thiel: Need to rethink tariffs in light of trade deficit with China



PayPal cofounder Peter Thiel in a wide-ranging interview on President Trump’s trade tariffs, China’s economy, technology regulations and his outlook for bitcoin.

36 Comments

  1. What’s needed with China is an IP wall. They are quite free to practice a policy of no copyright and patents inside its own borders but they undermine all other nations by importing their knock offs and infringements into other countries. People can spend years developing a product and get millions in debt only for China to copy it with no r&d costs and undercut the inventors on price. This has to stop.

  2. we chinese, don't need western economic theories, western values, western democracy, western voting system, western free market, western invasion, western wars, western dominance. we have our own word, standards, our own values/ systems. only brainwashed people believe democracy is perfect, the west is perfect, such indian and taiwanness.

  3. I generally enjoy Peter Thiel, but he needs to do his homework.. His commentary is puzzling in its naivety. Technology acquisition is normal for a developing economy. The quoted trade deficit is wildly exaggerated. In today's world of exponentially growing high technology the best way to be an obsolete has been is to try to protect yesterday's IP rather than focus on tomorrow's innovation. A very important thing to consider in a rapidly changing technologically driven economy is scale. China offers the USA a market that is 5 times larger, hardly a fair trade. The American economy is relatively small even puny. The USA has a bloated currency and restrictions on imports and exports that are hurting its trade account balance. Today's high tech is tomorrows obsolete tech. Best to be selling the high tech while there is still a market.

  4. American people don't understand Trade, they don't understand politics, what they do understand though is that if their bills are increasing, they're giong to want to know why? If they find out it's because of Trump and his trade war, then they won't be happy. All people care about are themselves. What's better for them.

  5. Our deficit spending and the value of our currency are the two main reasons for our trade deficit – not trade policies.

    Countries who spend more, import more.

    The relative value of the dollar is very strong, which makes foreign goods cheaper for us and more expensive for others. Countries with strong relative currencies tend to import more.

    It's absolutely scary that our President and most of our citizens don't understand this. Gary Cohn I'm sure tried explaining this to Trump but he won't listen.

    Because Trump has increased spending and decreased taxes – our global deficit is going to grow, and this trade war is only going to hurt. Mark my words.

  6. Wow surprised someone as informed as Thiel is a bit too much of a believer in Bitcoin instead of the blockchain itself, which is gonna find its killer app in some ICO we haven’t seen yet.

  7. "There's far more investment from China in America than American investment in China." What total BS! The Chinese invest the surplus in US Treasury bonds, which frees up household savings to be invested in US companies that also do significant FDI investments in China. Come on.

  8. Whoever negotiates with China diplomats must don’t understand money … I know there’s more to the story ….. however 475 billion dollars being exported thru this deal called NAFTA is bullshit Trump is a dick if he tries to make the ink dry on a so called tariff deal or sucka move

  9. Nothing about the trade war, but can Fox News update their video database, that China clip on the background is pretty outdated, probably from 2008…

  10. Most people dont realize, even if you dont import ANYTHING from China the jobs wont go back to the U.S. They will simply be moved to next country down cost ladder. Vietnam, Mexico even Canada. Second point is China can export else where, if look at the data export to America is only a small fraction of Chinese exports. Trump's move is just an empty gesture to pull attention away from his scandals at the cost of average Americans.

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